Price - Click to edit Master subtitle style MKTg 301...

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Unformatted text preview: Click to edit Master subtitle style 2/10/11 MKTg 301: principles of marketing Price “Price is only relevant in the context of the value of what it is you’re offering.” Joel Hoesktra CEO, General Mills TURN IN ANY EXTRA CREDIT PRIOR TO THE START OF CLASS. EXTRA CREDIT IS ONLY ACCEPTED TODAY IN HARD COPY FORM. 2/10/11 a proposed change. In-Class Assignments 2/10/11 1. The communication process focuses on providing the right message in the right medium to reach consumers. 2. IMC focuses on coordinating the various marketing promotional tools in order to have the largest impact on the consumer. REVIEW: IMC Chapter 17 2/10/11 1. Push and Pull promotional strategies 2. Advertising, Direct Marketing, Electronic Media, Public Relations, Sales Promotions, and Personal Selling… … are the various promotional elements used within the IMC. REVIEW: Advertising, PR, and Sales Promotions // Chapter 18 and 19 Click icon to add picture 2/10/11 Definition: The overall sacrifice a consumer is willing to make – money, Price 2/10/11 5 C’s of Pricing { D 5 6 9 C 4 C D -B 2 7-4 8 9 7 -8 4 9 E -5 9 8 D 7 6 C A F 0 5 } Company Objectives { B F 8 9 F 4 F 2 -A 8 3 2 -4 8 0 -B 0 B 5 -5 4 B 8 6 F E 8 4 9 4 6 } Customers { 9 6 7 B 5 0 7 4 -C 7 B-4 D 6 E -9 5 F A -E 5 6 5 D 3 F B 7 D 0 A } Costs { C 2 0 9 2 D 5-5 3 E 3 -4 A 9 2 -8 6 F E -2 4 8 9 E 3 8 4 C D F 1 } Competition { 7 8 B E A 4 E -A B 4 -4 C 7 -A D 1 9 -6 E F 5 B E A 7 D E A 9 } Channel Members 2/10/11 C ompany Objectives { A B 7 2 8 9 A 3 -1 B 0 5 -4 1 7 3 -9 F A -5 9 C 5 C F C E F 6 } Profit Orientation { 1 E 8 0 B E 9 4 -4 3 F 5 -4 6 7-9 D 5 6 -5 8 9 D 9 6 8 9 D F 0 B } Sales Orientation { 2 8 6 5 2 7 F 3 -8 1 C F -4 5 9 8 -A 9 3 E -6 9 A 1 F 2 7 2 6 F 4 } Competitor Orientation { C 4 A F 3 8 F 3 -4 9 3-4 F 3 9 -8 7 5 3 -4 7 1 D 7 8 0 2 7 A C } Customer Orientation 2/10/11 Pricing Strategy: Company- 2/10/11 C ustomers PRI CE QUANTI TY Demand Curve 2/10/11 Price Elasticity of Demand PRI CE QUANTI TY Inelastic Demand Curve Elastic Demand Curve % change in quantity demanded % change in price 2/10/11 Calculating Price Elasticity Let’s assume: l...
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This note was uploaded on 02/09/2011 for the course MKTG 301 taught by Professor Staff during the Fall '08 term at George Mason.

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Price - Click to edit Master subtitle style MKTg 301...

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